Not a good article at all. a) Nobody has ever confused a car with an investment. b) "Assuming a modest 10% return". 10% after taxes and inflation is not a mo

Not a good article at all. a) Nobody has ever confused a car with an investment. b) "Assuming a modest 10% return". 10% after taxes and inflation is not a modest return by any stretch of the imagination and I'd be thrilled if I could achieve that consistently. If he hasn't factored inflation and taxes in then all his sums are wrong. c) "Here, look, my $4000 student car costs more than $4000 in running costs and depreciation over three years" is not a useful example in the context of luxury vehicles. With luxury vehicles your running costs will be a much smaller fraction of the original outlay. (Although I admit depreciation will still be a big factor. Probably best to get one second hand that's a couple of years old.) d) It's just a generalization of the general truism that millionaires have often become millionaires because they're frugal. e) If you've got, say, five million dollars, you can cheerfully drop a hundred grand on a car and it's only a small fraction of your wealth. Not a sensible idea, but not fatal either. f) In the second paragraph he essentially says "Millionaires often drive cheap cars except when the drive luxury cars". This is not a particularly impressive insight.